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Prime interest rate: 10.50%

South Africa Prime interest Rates

The prime lending rate or simply called the prime rate is the lowest rate at which a clearing bank will lend to its clients on overdraft.

Banks and financial institues are free to set their own prime rate at their own discretion, but in practice competition usually forces different institues and banks to set a similar prime rate.

The prime interest rate at which ordinary customers are charged on overdraft balances can vary from customer to customer and from financial institute to financial institute. Usually this is significantly higher than the prime interest rate.

The definition of a clearing bank is simply a commercial bank that is part of a network of banks that can clear transactions for its customers regardless of whether or not the transaction originates from the same commercial bank.

Common Duties Of Bond Originators

Assessing the market to find a mortgage bond product that fits the clients needs at the lowest possible interest rate. Applying for a lenders agreement in principle (pre-approval). Gathering all needed documents (payslips, bank statements, etc.). Completing a lender application form. Explaining the legal disclosures. Submitting all material to the multiple lenders.

 


Apply for a home loan, quick & easy (Absolutely Free Service)

Why settle for the prime interest rate when you can get a better deal. Let us negotiate with the banks on your behalf to get you a better deal. By utilising our free service, we can apply to multiple lenders with just one application form. Bond Originators can muscle low prime interest rates for their customers. Save yourself the hassle and stress, let us do all the hard work for you, for free.

It only takes a couple of seconds to complete our online home laon application form. A couple of seconds that could save you thousands. Complete the form below and have a professional bond originator contact you. Use the form below to apply for a new home loan, bond refinance , further/second mortgage loan or prequalification letter. Lowest interest rates guaranteed, let us do the hard work for you...

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